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5. In January 2018, Adam, Bryant and Cynthia jointly formed a limited partnership to run yoga studio. The partnership agreement stipulates that: 1) Adam shall

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5. In January 2018, Adam, Bryant and Cynthia jointly formed a limited partnership to run yoga studio. The partnership agreement stipulates that: 1) Adam shall contribute $30,000 in cash, as limited partner; 2) Bryant shall contribute $30,000 for the house, as limited partner; 3) Cynthia shall contribute $60,000 for the services and operation of the studio, as general partner; 4) the partners shall share the profits and losses in the same proportion. After the formation of the partnership, business went well and received $10,000 profit in every month, while profits have not been distributed ever. After covid-19 Outbreak in January 2020, Adam took $200,000 from the partnership's bank drawn on its overdraft facility, and he told the bank that the money was to expand studio operations. Then Adam filed a motion to withdrawal his share from partnership, and given that the partnership was totally not profitable at the time, Bryant and Cynthia agreed and distributed the profit from January 2018 to January 2020 with him. After Adam completed the withdrawal settlement, however, the bank sued the yoga studio on February in order to collect the loan. Required: Advise Adam, Bryant and Cynthia as to their various rights and liabilities in relation to the operation of the business under partnership law. 1) The distribution of partnership's profit from January 2018 to January 2020 among Adam, Bryant and Cynthia (5 points) 2) Is there negligence in during the transaction as the bank is concerned (5 points) 3) In order to settle the loan, how should the liability be shared between Adam, Bryant and Cynthia, and how to solve the problem eventually (10 points)

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